According to the National Housing Bank, some cities has shown sharp gain and among them Chennai topped the list of price gain, though the housing market in all over the country has remained lethargic over the past year.
Also, during the period of April-June 2014 quarter, the residential housing price rose up to almost 17 per cent, as compared to the same quarter of earlier year, this statement is given by the National Housing Bank’s Residex index, which actually track the fluctuation in the price of residential properties on quarter basis and now more or less it covers 26 different major cities in the country.
Undoubtedly, Chennai has taken a wide space and after that Ahemdabad by (14.5 per cent) and followed by Surat (13.38 per cent) in price appreciation phrase. On other hand, few cities saw double-digit gains in property price in a year and that are Hyderabad with 13 per cent, Kolkata with 11.54 per cent followed by Pune with 10 per cent.
National Housing Bank’s Residex keep the record of residential properties based upon the transaction based upon the transaction data received from Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI).
In spite of Hyderabad and Chennai seeing double-digit price gains, in major southern cities the price has showed inert movement. Likewise, kochi and Bangalore were dull on the yearly basis, whereas, Coimbatoredeclined by 1 per cent and Vijayawada price fell by almost 6 per cent.
Maximum fall of price was seen in Meerut by 15.8 per cent followed by Chandigarh 8.3 per cent along with Jaipur 7 per cent and Ludhiana by 6 per cent.
While, Delhi Residential price fell down by 3 per cent, whereas, Mumbai rose by 5 per cent.
